I was sitting on about +40% gain and sold a while back. It seems to me the BOD is not operating in the best interest of shareowners__been down that road b4 and have seen gains turn to a loss!
In Websters'__under the def for liar it says 'see Dr. Chumps; Hillary.'
Sorry but S&P just lowered CVXs credit outlook stating "We note that the company has significantly more debt than in the last cyclical downturn while oil and gas production are at similar levels."
Obviously you are the 'idiot'
Dude/gal__TBT is a leveraged inverse fund (and a poor one at that except for a swing trade). When the mkt tanks generally thre is a flight to quality (treasuries, a strong currency, sometimes gold). For example TLT a non-levered 20 yr plus Treasury ETP currently is up +1.45%, Swiss Franc +.94% and Gold +1.40%.
As safety goes are you referring to 'credit worthiness', the ability to pay the dividend or share price stability?
They would slash/eliminate the common dividend b4 the preferred. Keep in mind that as a 'fixed rate' instrument they exhibit 'negative convexity'. That means the share price will react more negatively (faster) to a rise in general/equivalent rates than a similar decrease.
All 3 are currently priced below 'par'. So it would seem some of this is already priced in.
You may want to look at 'RNP' a closed end fund (CEF) trading at approx. 16-17% below NAV. The distribution rate is quoted wrong by Yahoo. Since they commonly use leverage the dist is approx. 8.43%.
The High Yield market is reflecting the future defaults in weaker capitalized 'Natural Resource' sector companies. A number have already missed 'preferred dividends' and or slashed/eliminated common dividends to enable making debt and loan commitments. Some CEFs that specialize in this area have completed rights and preferred offerings in order to raise coin to step in distressed scenarios.
The natural resource bust combined with 'tax selling' have presented opportunities in these CEFs.
"backwardation" mode, which reflects extremely negative forward expectations for the stock market."
That is exactly opposite what that means___the vIX futures currently reflect the view the market will become less volatile after DEC until May of 2016. Which is exactly what would be expected considering 'seasonal trends'
How many times do I have to brain slap you b4 U stop posting this mis-information.
Look Moron ‘Contango’ is forwadation (not backwardation) the forward curve is an upward slope because the futures price is higher than the cash/spot price. This is a ‘Normal’ market scenario.
Why don’t you restart ur education at the 3rd grade level__maybe this time around you will learn the basics of comprehension!
I could have mentioned the TRUPs (KTP & PFH). I might consider them if I wasn't already overweight in JCP btwn debt & equity and retail (FSRPX) in general.